EC sets out phase III plans for EU ETS
The European Commission (EC) today outlined its plans to expand the scope of the European Union’s Emissions Trading Scheme (EU ETS) for the trading period of 2013 - 2020 (phase III).
The draft law presented today is intended to “strengthen, expand and improve the functioning of the ETS,” in order to help the EU meet its target of a 20% reduction on 1990 emissions levels by 2020. A target of 30% will be adopted if countries outside the EU commit to comparable efforts in reducing emissions.
The law proposes a single, EU-wide cap on emissions, instead of the current 27 national caps. The annual cap will decrease by 1.74%, starting from the level of the phase II cap, throughout
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